The procurement process presents a significant improvement opportunity that can deliver substantial savings and streamline operations. Low contract coverage, lengthy contract implementation, price discrepancies and poor spend transparency and controls are among the back office performance gaps that can impact hospital operational and financial performance.
Gain end-to-end procurement optimization
Engage MedAssets extensive team of experts and proprietary technology platform to streamline the entire requisition-to-payment process for improved resource efficiency and strategic, data-driven cost reduction decisions. You gain a tailored solution that will automate back office functions, enhance visibility into all areas of supply spend, reinforce contract compliance and identify pricing errors at point of purchase and invoice. More important, by eliminating manual, time-consuming processes you can redirect focus on your long-term supply chain and cost reduction strategies.
- Through our exclusive National Procurement Center, MedAssets manages and procures more than $4 billion in purchases per year on behalf of over 800 healthcare facilities, making us one of the nation’s largest third-party providers of supply chain management services.
- Our quality operational support has been proven to help providers optimize the value of service and supply contracts through increased contract compliance and price accuracy.
Products and Services
Automated Payment Exchange
Powered by Hap-X, this solution provides a universal, web-based payment exchange delivering transparent payments between suppliers and providers. Unlike automated payment solutions available today, our payments are process based on the most favorable supplier terms offered and includes a revenue share for both card and non-card-accepting vendors. The exchange is exclusively designed for the healthcare industry and facilitates transactions between several hundred hospital providers and major manufacturers and distributors.
A proprietary ecommerce platform that automates many of the tedious, time consuming back office tasks related to managing supply-chain transactions and improves contract compliance through visibility into off-contract purchases. The platform electronically connects buyers to suppliers to enable quick and simple exchange for a variety of Electronic Data Interchange (EDI) supply chain-related documents: purchase orders (POs), PO acknowledgements, advanced shipment notices, invoices and product/price catalogs.
eProcurement Services Buyer
Powered by Prodigo Solutions, this capability optimizes performance and reduces costs by automating the entire requisition workflow. Requisitions are created electronically and the contract price for every transaction is verified, before it is routed for approval based on your specific business rules.
eProcurement Services MarketPlace
Powered by Prodigo Solutions, this capability enhances your current ERP requisition system and decreases requisition cycle time by providing requisitioners with shopping cart functionality for quick and efficient connectivity to your entire network of approved supplier content, including punch-out, hosted catalogs, internal item masters and other data sources. You gain controls to point buyers only to contracted items to result in increased contract compliance and price accuracy.
Item Master Services
Benefit from a one-time cleanse, monthly synchronization or ongoing management of your item master to ensure it is comprised of the most relevant items, described in a consistent manner, and at the correct prices.
Invoice Management Services
Achieve true “touchless” processing by automating up to 100 percent of your invoices received from suppliers. Invoice Management Services, powered by Ariba®, the leading provider of collaborative business commerce solutions, have come together to help providers minimize invoice exception handling, gain visibility into spend data and increase utilization of prompt pay discounts and eliminate late payment penalties, among other benefits. Automate ad hoc negotiations, or “dynamic discounting,” with suppliers to help secure incremental discounts on invoices beyond the standard prompt pay window for optimized cash flow and high-yield, risk-free returns on account payables.
Transaction Management Services
Enhance your use of the eCommerce Exchange by conducting EDI with any supplier regardless of their size or technical capability. Our team of transaction analysts works as an extension of your purchasing department to increase operational automation and efficiency within your procurement operations. We help your organization by providing increased visibility to your spend, standardize best practices, apply client-specific business rules and further automate ordering.